ARK researchers warn against the speculation of RWA; OpenAI declares tokenized equity SPV invalid
ARK Invest Valente warns: If the underlying equity of tokenized stocks, transfer restrictions, and investor rights are unclear, they will become multi-layer wrapped speculative assets. On 5/12, OpenAI announced that four types of direct or indirect equity transfers are invalid and will actively enforce transfer restrictions. The compliant path is Bullish acquiring Equiniti and Securitize for on-chain; other forms wrapped via SPVs are still appearing. Risks are divided into three layers: invalid underlying equity, securities law compliance risk, and the risk of transaction rescission and claims.
MarketWhisper·05-14 01:43
